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20121204
20121204
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in self defense. >>> republicans took the bait. they delivered a counter proposal to president obama's plan to avert the fiscal cliff. guess what, the white house rejected it, calling the gop proposal unbalanced and not serious. translation? no tax hikes on the wealthy so democrats said forget about it. we thought you should take a look. it totals $2.2 trillion in deficit reduction over ten years. the part that stood out to us was $600 billion in proposed savings in medicare reforms. how? in part by raising the age of eligibility to 65 to maybe 67. turning down the gop proposal, dan pfieffer said, quote, it provides no details on which deductions they would eliminate, which loopholes they will close or which medicare savings they would achieve." let's head now to the white house and dan lothian. the white house will not offer a counter proposal, right? what's going on here? >> reporter: well, you know, i think the white house is digging in. the president said early on in this process that he would only sit down and really move forward, negotiate on this in any meaningful way if the t
possibly look like. that was a movement more towards the center. as president obama said it's unacceptable. when i was walking over here i spoke to a senior republican senator and he pretty much said look, we accept that eventually these rates on the 250 or above are going to have to go up. we should try to bank something. whether that be something to bring back to our conference saying we lost the 250 or above but we got the medicare age raised. we were able to get significant entitlement reform. that is most likely what some deal is going to look like. there is a belief amongst house republicans andrea, that president obama is playing smart politics on this. he's taking this cliff all the way to the edge, the possibility that he's okay with the country going over it, with the idea that he can fracture republicans on the tax issue. remember, republicans have been ability lowering taxes ever since h.w. bush said the read my lips pledge. what they've run on. if he can fracture them and hurt them politically going into 2014 they believe that's what he's doing and why he's trying to draw this
refusing. after rejecting the obama administration proposal last week, house republicans offered an outline for $2.2 trillion in deficit reduction, mostly through spending cuts. and while president obama would not answer questions about the counterproposal -- >> no deal better than a bad deal, sir? >> reporter: -- a senior white house official assailed it as a step backward, saying if republicans do not agree to some higher rates for wealthier taxpayer, the nation will go over the cliff, and the american people will hold the republicans responsible. wall street remains optimistic a deal will be struck. so the lack of progress is not yet resulted in a market plunge. but some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. the official deadline is december 31st at midnight when the ball drops in times square. the deadline is before that, a week from friday when the house of representatives is scheduled to go on vacation. in actuality there are fewer than 11 days before they need to work out a deal. jake ta
] stuart: moving along, republicans counteroffer to president obama's solution to the fiscal cliff yesterday with a plan of 800 billion dollars in new revenue from tax reform, not from higher tax rates. plus, about a trillion dollars in spending cuts. speaker john boehner said the president's plan just wouldn't pass. unfortunately, the white house responded with their la-la land offer that couldn't pass the house. so basically they are at odds. david, here's what i've got, here's my calculation, rough back of the envelope, okay? when i can find the envelope. okay? it is president obama wants 800 billion dollars more in tax revenue from the rich in the form of higher tax rates. the republicans want about a trillion dollars more in spending cuts. david: uh-huh. stuart: the two sides are those dollar numbers apart. and you say what? david: i say i don't think the president cares if it passes the house. because if it passes, he gets everything he wants. he doubled the amount of tax income he wanted from the private sector because he wants many r in his proposal. -- he wants more in his
between the white house and house republicans. eve one offers a deal the other side says is totally unacceptable and a non-starter. president obama just sat down for an interview with bloomberg and says the tax rates -- the republicans say don't raise rates. but let's close out loopholes and get rid of deductions. all you should care about is how much revenue you are getting. why do you care fit' a rate or deduction. increase the revenue. president obama says no i need rates to go up on the rich. now he's saying rates have to go up. they have to go up on the rich. but then we can talk about lower them again next year. we'll chat. we'll have more time then we can discuss the loopholes abductional earn tough deductions to rates. >> we are 400 days away from the first primaries of the 2014 elect cycle. every day we get closer to those primaries the likelihood of a big deal, something large taking place gets less. so the president is saying there, never minds. what he's saying there -- he knows the political reality of this, having suffered the worst mid-term defeat of any president in
to muddle through this. the democrats have a proposal on the table. the republicans say it is not serious. republicans have a proposal on the table. democrats say it is not serious. now a new line in the sand from president obama, this from an interview with bloomberg tv a short while ago saying we're going to have to see the rates on the top 2% go up and we're not going to be able to get a deal without it. the president hadn't gone there before. perhaps there was perhaps a wiggle room following thought. still there is no line in the sand how much rates have to go up. the white house position is that they must go back to clinton rates for top earners. that is nearly 40% on amounts of more than $250,000 a year. republicans have put $800 billion of unspecified tax revenue on the table but they're saying no to a tax rate increase. democrats have said no to that proposal.% in response to that a spokesman for house speaker john boehner saying despite republicans offer to put real revenue on the table the president has offered no concessions whatsoever. when will this willingness to compromise
christmas. worry about next year if this strike goes on. as i told you yesterday, the republican counterproposal for heading off the fiscal cliff was a nonstarter. president obama made clear today that it will not be possible to get a deal to avert the fiscal cliff without raising taxes on the wealthy. the gop's plan did promise $2.2 trillion in deficit savings over the next decade. that's about half of what the president promises in his plan. but the gop plan does it without any tax hikes on the rich. and that is not going to fly with democrats. republicans for their part are unhappy that the president's proposal calls for $200 billion more in stimulus spending over the next year. here is how that breaks down. $95 billion to extend the payroll tax cut for one year, $30 billion to extend jobless benefit for one year, $50 billion to spend on roads and bridges and another $25 billion on short-term stuff like a temporary tax deduction for small businesses. the argument in favor of the president's plan is this could help people still hurting from years of economic trouble, but you kn
is $1 trillion. soledad, that's the problem. republicans have put forward budgets, voted for them, willing to be held accountable. democrats have not. president obama has not. >> you won't vote for them. >> nor have any democrats. >> democrats have voted for those budgets and supported those budgets. >> zero to 610 is the vote total of the last three votes on his last three budgets, 0-610. do you think that's a serious proposal? president obama, show us your plan. >> he can't show you a plan he gave you a plan. his plan is not to repeal obamacare. not going to happen. you lost the election, buddy. >> we are out of time. we need to take bob shrum's coffee away, bring everybody back down. we appreciate your time, senator. i love you hashing the numbers with him. he always comes ready to lay it out. >> political reality, it is a very different world than he is laying out. republicans won't consider raising the top rates, it is not your choice anymore. they are going up unless you make a deal that the president accepts. >>> believe it or not, there are some other stories in the world
Search Results 0 to 7 of about 8

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